Frank Sinatra receives the Grammy Legend Award. Sinatra's acceptance speech is cut short and other artists, upset by this action, criticize the producer's decision during the show, including Billy Joel who takes extra time to perform his song, The River of Dreams, noting that he is wasting valuable air time.

March 3 – In Rome, Nirvana's Kurt Cobain lapses into a coma after overdosing on Rohypnol and champagne.

March 30 – Pink Floyd embark on what would be their last world tour before their breakup. The record-breaking tour supports their Division Bell album, with the band playing to 5,500,000 people in 68 cities and grossing over £150,000,000.

May 27 - The Eagles launch the Hell Freezes Over tour in Burbank, California. The reunion tour is the group's first since breaking up in 1980, but much is also made of the band becoming the first to charge over $100 per ticket for arena shows.

June 27 - Aerosmith becomes the first major band to premiere a new song on the Internet. Over 10,000 CompuServe subscribers download the free track "Head First" within its first eight days of availability.

Rich Mullins and "Leave a Legacy" contest winner, 76-year-old Miguel Garcia Massiate, travel to Bogotá, Colombia with Compassion International. The two men visit the Ciudad Sucre Center where Mullins presented them with over $40,000 that was raised on his summer '94 Ragamuffin Band tour.

Luis Miguel release Segundo Romance, the best-selling Latin album of the 1990s by a male artist. Four singles from the album were released; two of which reached #1 on the Top Latin Songs. It received a Grammy Award and a Billboard Latin Music Award.

September 8 – Richard A. Morse, lead male vocalist of RAM, narrowly escapes a kidnapping by armed men during the band's live performance at the Hotel Oloffson in Port-au-Prince, Haiti; the attempted kidnapping was provoked by the performance of "Fèy", a RAM single banned nationwide by the military authorities.

October 12 - Jimmy Page and Robert Plant: No Quarter (Unledded) premieres on MTV. The "unplugged" concert special featuring the two former Led Zeppelin bandmates was filmed to accompany the release of the album of the same name.

Social Distortion manager Jim Guerinot forms the label Time Bomb Recordings in joint-venture agreement with Arista. The label actually exists mostly as an imprint for current releases from Social Distortion and solo albums by Mike Ness, along with the administration of the label's back catalog.